10 Must Reads from the CRE Industry Today (July 2, 2015)

Who Will Be the Airbnb of Office Space?“Friday’s revelation that Airbnb is now worth over $25 billion was received with particular delight by a certain crop of commercial real estate tech startups.” (TheReal Deal)

Manhattan Apartments Cost an Average of $1.87M—a Record “The average sale price of a Manhattan apartment reached an all-time record of $1.87 million during the second quarter of the year, according to a report released Wednesday by Douglas Elliman Real Estate.” (Crain’s New York Business)

How to Begin Ending the Commercial Rent Tax“In his recent interview with Crain's, Jacques Jiha, commissioner of the city's Department of Finance, was asked: ‘What taxes do you think still need to be changed?’ Members of the Manhattan Chamber of Commerce were elated to see that the commissioner's answer was the commercial rent tax.” (Crain’s New York Business)

Lidl to Establish N.C. Hub “Lidl said Wednesday that it would open a regional headquarters and distribution center facility in Alamance County, N.C. The move is part of the German company's preparations to expand into the U.S., and comes after last month's establishment of U.S. corporate headquarters in McLean, Va. and regional facilities in Virginia.” (Supermarket News)

Investors Are Betting on Restaurants “Investors seem to have rediscovered the restaurant industry so far in 2015, but they’ve done so cautiously—pouring money into perceived winners while abandoning any company that underperforms.” (Nation's Restaurant News)